Churchill Downs, Incorporated (NASDAQ:CHDN) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Churchill Downs, Incorporated (NASDAQ:CHDN) has received an average rating of "Buy" from eleven analysts, with a twelve-month price target of $138.18.
• The company's recent earnings report showed an EPS of $3.10, exceeding consensus estimates, and a revenue increase of 4.9% year-over-year.
• Institutional investors hold 82.59% of Churchill Downs' stock, with significant increases in stakes from firms such as SG Americas and Millennium Management.

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Get Free Report) have earned an average rating of "Buy" from the eleven analysts that are covering the company, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $138.1818.

Several equities research analysts recently issued reports on the company. Truist Financial cut their price objective on Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Stifel Nicolaus boosted their target price on Churchill Downs from $130.00 to $133.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Macquarie boosted their target price on Churchill Downs from $150.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Barclays boosted their target price on Churchill Downs from $127.00 to $131.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group lowered their target price on Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN traded down $1.27 during trading on Friday, reaching $100.90. The stock had a trading volume of 617,476 shares, compared to its average volume of 689,973. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The business has a fifty day moving average price of $103.03 and a 200-day moving average price of $106.05. The stock has a market cap of $7.08 billion, a PE ratio of 17.34, a PEG ratio of 1.89 and a beta of 0.95. Churchill Downs has a 1-year low of $85.58 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $3.03 by $0.07. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%. The firm had revenue of $934.40 million for the quarter, compared to the consensus estimate of $924.36 million. During the same quarter last year, the business posted $2.89 earnings per share. The firm's revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Churchill Downs by 28,864.9% during the first quarter. SG Americas Securities LLC now owns 512,099 shares of the company's stock worth $56,879,000 after purchasing an additional 510,331 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Churchill Downs by 107.4% during the first quarter. Millennium Management LLC now owns 548,476 shares of the company's stock worth $60,919,000 after purchasing an additional 284,045 shares in the last quarter. FMR LLC lifted its stake in shares of Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after purchasing an additional 214,694 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Churchill Downs by 97.9% during the fourth quarter. Point72 Asset Management L.P. now owns 431,165 shares of the company's stock worth $57,578,000 after purchasing an additional 213,311 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Churchill Downs by 57.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 533,064 shares of the company's stock worth $71,185,000 after purchasing an additional 193,677 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.